How Much Down Payment Does a Foreign National Need for a U.S. Rental?
Foreign nationals buying a U.S. rental should plan on at least 30% down, plus closing costs and reserves. Worked examples and ways to stretch your capital.
Key takeaways
- Plan on at least 30% down: our foreign-national loans go up to 70% LTV on a purchase (as of September 2026)*.
- Budget closing costs and reserves on top - reserves are typically 6-12 months of the payment (PITIA).
- Already own the property? A cash-out refinance goes up to 65% LTV to fund your next purchase.
- U.S. residents can reach 85% LTV; for foreign nationals the lower leverage offsets the lack of a U.S. credit history.
The down payment is usually the biggest number in a foreign national's first U.S. purchase, so it's worth knowing exactly what to plan for before you start looking at properties.
The short answer: at least 30%
Our foreign-national loans go up to 70% of the purchase price, so the minimum down payment is 30%. Here's what that looks like at a few price points (as of September 2026)*:
- $300,000 purchase: $90,000 down (30%), $210,000 loan
- $500,000 purchase: $150,000 down (30%), $350,000 loan
- $750,000 purchase: $225,000 down (30%), $525,000 loan
- * Subject to underwriting
What else to budget for
- Closing costs: title, appraisal, lender fees and LLC formation
- Reserves: typically 6-12 months of the payment (PITIA), held in an account in your name or your LLC's
- Currency conversion: if you're moving money from another currency, plan the timing and the exchange rate
Why foreign nationals put more down than U.S. residents
Lenders can't check a U.S. credit history or reach assets held abroad as easily, so they generally offset that with lower leverage. That's why U.S. residents can borrow up to 85% LTV on a rental purchase while foreign nationals go up to 70%.
Ways to get more out of your capital
- Cash-out refinance later: once you own a property, you can refinance up to 65% LTV and use the cash for your next purchase.
- Short-term financing for value-add deals: foreign nationals can also use our hard money (fix & flip) and bridge loans, with terms set by the property and the file.
- Build a portfolio over time: many investors start with one property and add more as equity and rental income grow.
See your exact down payment and terms instantly.
Foreign National programFrequently asked questions
Can a foreign national put 20% down?
Not on our foreign-national loans - the maximum is 70% LTV, so the minimum down payment on a purchase is 30%.
Can the down payment be a gift?
Documented family gifts are an ordinary source of funds. You'll need a gift letter and the bank trail showing where the money came from.
Does the down payment have to be in a U.S. bank account?
It has to be documented and in an account in your name or your LLC's before closing. Many investors move it to the LLC's U.S. account ahead of closing.
How much do I need in reserves?
Typically 6-12 months of the payment (principal, interest, taxes, insurance and any HOA), depending on the file.